MVM signs HUF 200 bln credit agreement
The state-owned Hungarian Electricity Works (MVM) has signed a HUF 200 billion revolving credit agreement with a consortium consisting of 12 domestic and foreign financial institutions, state news wire MTI reported on Friday.
MVM CEO János Zsuga said on Friday at the signing of the agreement that the credit line will be used for general corporate financing and for the refinancing of MVM Groupʼs syndicated loan contract. The five-year loan needs to be repaid in a lump sum at the end of maturity, he added.
Deputy CEO András Huszár noted that the loan conditions are very favorable, with an initial credit spread of 40 basis points.
The consortium consists of UniCredit Bank Hungary, the Hungarian unit of BNP Paribas, CIB Bank, the Hungarian unit of Citibank, Commerzbank, Erste Bank Hungary, the Hungarian unit of ING Bank, K&H Bank, TakarékBank, MKB Bank, OTP Bank and Raiffeisen Bank.
MVM Group is the fourth largest company group in Hungary. It recorded more than HUF 1,034 billion consolidated revenues last year, with HUF 110.8 bln EBITDA.
Hungary CPI Drop Acknowledged at IMF/World Bank Spring Meeti...
Hungary to Address Future of Cohesion Policy During EU Presi...
AI may Save Hungarian Healthcare, Says Leading Doctor
Time Out Market to Open in Budapest Next Year
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
